Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaAustralia will publish its Inflation Rate on January 25, at 02:30 MT time. This is a significant release that shows the quarter over quarter change in the price of goods and services. It comes out together with the trimmed mean CPI that is calculated as the headline indicator minus the most volatile 30% assets.
Given current uncertainties around rising prices worldwide, the release of CPI grabs a lot of attention. Based on the change in inflation figures, central banks make their decisions regarding monetary policy. If the inflation goes above its target, regulators tend to turn hawkish. As a result, the currency strengthens as well.
Last time, the Australian dollar outperformed on the higher-than expected trimmed mean CPI. While the headline indicator came out in line with the forecast of 0.8%, the core level jumped by 0.7% (vs. the forecast of 0.5%).
It’s easy! Just compare the actual data with the forecasts which appear a few days before the report in the economic calendar.
Instruments to trade: AUD/USD, AUD/JPY, AUD/NZD
